Anglo American's Aquila project in Central Queensland. Picture: Nat Dixon
Anglo American's Aquila project in Central Queensland. Picture: Nat Dixon

Mastermyne scores $60m mine contract extension

Mackay mining contractor Mastermyne has secured a major contract extension estimated to be worth an extra $60 million - building on its already "very strong" order book.

In an update to investors, Mastermyne has announced its development and outbye services contract for Anglo American's Aquila project was extended.

The company has been engaged since August 2019 to undertake roadway development in the mains and gate roads, and all outbye related services for the new longwall operation at Aquila Mine.

The Aquila metallurgical coal mine in Bundoora, Central Queensland is on track for first longwall production of hard coking coal by early 2022.

The current contract will be extended for 12 months to March 2022 and includes the operation of an additional roadway development unit.

Mastermyne currently employs 178 full-time workers under the contract, with another 60 full-time workers to be added.

Total revenue generated from the variation and extension to the mining contract is expected to be about $60m.

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Mastermyne chief executive Tony Caruso said the company was pleased about the extended contract and the opportunity to do additional roadway development works.

"We have been working to deliver major underground infrastructure and roadways safely and efficiently, and we look forward to continuing our work with Anglo American to deliver their new longwall project, producing premium high quality hard coking coal," Mr Caruso said.

"It is pleasing to see projects progressing and building on Mastermyne's already very strong order book".

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